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WAEC Economics 2002 Question 49

Question 49

National Income

Gross Domestic Product (GDP) at market prices plus net factor income from abroad gives

  1. A.gross capital formation.
  2. B.net capital formation.
  3. C.disposable income.
  4. D.gross national product.
Show the answer and explanation

Answer: D (gross national product.)

Explanation

GNP = GDP + net factor income from abroad.